PRESS
07/02/2024
WOBURN, MA, July 2, 2024 - PRM is pleased to announce the commencement of construction of NoDa, a new ground-up 335-unit Class “A" apartment community situated on a full city block comprised of 3.57 acres in Charlotte, North Carolina. NoDa represents PRM's 19th ground-up development.
NoDa gets its name from the neighborhoods' main thoroughfare – North Davidson Street and is Charlotte's premier historic arts and entertainment district – offering an array of eclectic galleries, music venues, artisan shops, coffeehouses, bars, craft breweries, and local eateries. It is also situated within walking distance of Uptown Charlotte, the city's central business district. NoDa is also in close proximity to Camp North End, a former textile mill in Charlotte currently undergoing a visionary adaptive re-use project that will offer residents walkability to one of the city's most sought after live-work-play destinations.
As a financial and technology hub, North Carolina, is the fifth fastest growing state in the U.S. since 2010, with an average annual population increase of 3.30% (38.00% higher than the national average), Charlotte's Mecklenburg County has been an important driver of the state's growth and is currently ranked as the sixth fastest growing county in the Unites States.
The region's leading educational institutions and highly educated workforce, led by UNC Charlotte's 30,000 student population, moderate cost of living and favorable tax environment has made Charlotte a magnet for corporate relocations and expansions. In addition to being the second-largest banking center in the country, the city boasts a diverse economy which includes both Fortune 500 companies such as Microsoft, Eli Lilly, MetLife and Toyota, as well as a broad array of small and medium size businesses. Current planned corporate expansions represent over $18.5 billion in investments resulting in up to 18,000 new jobs.
Medical and academic institutions also have a strong presence throughout the region, anchored by Novant Health & Atrium Health, two nationally ranked health care systems. As two of the region's top employers, these hospitals employ more than 52,000 people (with 43,000 more planned over the next decade).
PRM anticipates that the NoDa project will be completed in the third quarter of 2026.
About PRM
Panther Residential Management is a Boston-based private equity real estate firm engaged in acquiring, developing, and managing multifamily communities throughout the Southeastern United States and other select markets. Since its inception in 2009, PRM has acquired or developed over 12,551 residential apartment units with a combined transaction value of approximately $3.5 billion.
For additional information, please contact:
Investor Relations
Panther Residential Management
ir@pantherrm.com
781.935.4500, Ext. 233
As a financial and technology hub, North Carolina, is the fifth fastest growing state in the U.S. since 2010, with an average annual population increase of 3.30% (38.00% higher than the national average), Charlotte's Mecklenburg County has been an important driver of the state's growth and is currently ranked as the sixth fastest growing county in the Unites States.
The region's leading educational institutions and highly educated workforce, led by UNC Charlotte's 30,000 student population, moderate cost of living and favorable tax environment has made Charlotte a magnet for corporate relocations and expansions. In addition to being the second-largest banking center in the country, the city boasts a diverse economy which includes both Fortune 500 companies such as Microsoft, Eli Lilly, MetLife and Toyota, as well as a broad array of small and medium size businesses. Current planned corporate expansions represent over $18.5 billion in investments resulting in up to 18,000 new jobs.
Medical and academic institutions also have a strong presence throughout the region, anchored by Novant Health & Atrium Health, two nationally ranked health care systems. As two of the region's top employers, these hospitals employ more than 52,000 people (with 43,000 more planned over the next decade).
PRM anticipates that the NoDa project will be completed in the third quarter of 2026.
About PRM
Panther Residential Management is a Boston-based private equity real estate firm engaged in acquiring, developing, and managing multifamily communities throughout the Southeastern United States and other select markets. Since its inception in 2009, PRM has acquired or developed over 12,551 residential apartment units with a combined transaction value of approximately $3.5 billion.
For additional information, please contact:
Investor Relations
Panther Residential Management
ir@pantherrm.com
781.935.4500, Ext. 233
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